This Act may be cited as the Services Export Development Grants Act 1973.

In this Act, unless the context otherwise requires,—

For the purposes of this Act, the value of the time spent by any person in the prospective supply of professional and technical services in relation to any overseas project shall be ascertained in the same manner as the value of that time would be ascertained for the purposes of section 129aa of the Land and Income Tax Act 1954 if no advance was made under this Act in respect of those services.

It shall be a function of the Minister to do all such things as may appear to him to be necessary to encourage exporters of professional and technical services from New Zealand to participate in the opportunities provided by overseas projects.

Without limiting the generality of subsection (1) of this section, the Minister may from time to time, in such cases and on and subject to such terms and conditions as he thinks fit, authorise the payment of money by way of advances, out of money appropriated by Parliament for the purpose, to persons or corporations established and operating in New Zealand that are seeking prospects for the supply of professional and technical services for overseas projects, being advances of up to 50 percent of the eligible expenses in relation to those projects. Repayment of any such advance made to any person or corporation in respect of the eligible expenses incurred in seeking to supply those services in relation to any overseas project shall not be required to the extent that that person or corporation does not succeed in supplying those services.

Without limiting the generality of subsection (1) of this section, in the exercise of his functions under this section the Minister shall have regard to the following purposes:

In determining the eligibility of persons or corporations for grants under this section, and the amounts of such grants, the Minister shall have regard to the advice and recommendations of the Committee.

There is hereby established a committee to be known as the Services Export Development Grants Advisory Committee.

The Committee shall consist of 4 members, being—

The Chairman of the Committee shall not be deemed to be employed in the service of Her Majesty for the purposes of the State Services Act 1962 or the Superannuation Act 1956 by reason of his being a member of the Committee.

The performance of the Committee’s functions shall not be affected by any vacancy in its membership.

The Chairman of the Committee shall be appointed for a term of 3 years, but shall be eligible for reappointment from time to time.

The Chairman may at any time be removed from office for disability, bankruptcy, neglect of duty, or misconduct, proved to the satisfaction of the Governor-General, or may at any time resign his office by writing addressed to the Minister.

Notwithstanding anything in subsection (1) of this section, the Chairman, unless he sooner vacates his office under subsection (2) of this section, shall continue in office until his successor is appointed.

Meetings of the Committee shall be held at such times and places as the Committee or the Chairman from time to time appoints.

At all meetings of the Committee not less than 3 members shall form a quorum.

The Chairman shall preside at all meetings of the Committee at which he is present. If he is absent from any meeting, the members present shall appoint one of their number to be the Chairman at that meeting.

At any meeting of the Committee the Chairman shall have a deliberative vote and, in the case of an equality of votes, a casting vote.

Every question arising at any meeting of the Committee shall be decided by a majority of the valid votes recorded thereon.

In the absence from any meeting of the Committee of any member (other than the Chairman), any officer of his Department authorised in that behalf may attend the meeting in his stead, and during intervals between meetings may do any act that the member may do. While so attending or acting the officer shall be deemed to be a member.

Subject to the provisions of this Act, the Committee may regulate its procedure in such manner as it thinks fit.

The Committee is hereby declared to be a statutory Board within the meaning of the Fees and Travelling Allowances Act 1951.

There may be paid to the Chairman of the Committee, out of money appropriated by Parliament for the purpose, remuneration by way of fees, salary, or allowances and travelling allowances and expenses in accordance with the Fees and Travelling Allowances Act 1951, and the provisions of that Act shall apply accordingly.

The Department of Trade and Industry shall provide such staff and administrative services as may be necessary to enable the Committee to exercise its functions.

The Department shall keep records of the proceedings of the Committee and of applications made to and information supplied to the Committee for the purposes of this Act.

The functions of the Committee shall be—

In the exercise of its functions the Committee shall, subject to any general or special directions given by the Minister, have regard to—

Not later than the 30th day of June in each year, the Committee shall send to the Minister a report of its operations and proceedings for the preceding financial year.

A copy of the report shall be laid before Parliament within 28 days after its receipt by the Minister if Parliament is then sitting, and, if not, within 28 days after the commencement of the next ensuing session.

No member of the Committee shall be personally liable for any act, default, or decision done or made by the Committee in good faith in the course of the operations of the Committee.

All information obtained by any person in the course of the administration of this Act as to any product, process, technique, practice, plan, study, investigation, design, estimate, tender, contract, or project shall be treated as confidential except for purposes connected with the administration of this Act.

The Land and Income Tax Act 1954 is hereby amended by inserting in section 2, after the definition of the expression “European”, the following definition: